- Lonestar Resources (LONE -3%) touts "significant reductions" of its long-term debt, which now stands at $212M, down a third from $319M at the end of June.
- LONE says at the end of 2016 it applied a portion of the proceeds of its recent $79M equity offering to repurchase $21M of its 12% second lien senior notes at 101% of par, while also repaying $49M of its revolving credit facility.
- LONE says its stronger balance sheet will help it accelerate the development of its inventory of extended reach laterals in the Eagle Ford Shale to deliver strong production growth and position it for additional asset opportunities.